Participants discussed the COP30 Presidency’s TAFF roadmap and the Santa Marta process. Concerns were raised about fragmentation, and questions asked about how these processes relate to the second Global Stocktake under the Paris Agreement. Updates were heard on both the TAFF roadmap and the Santa Marta process. Some participants stressed the need for the TAFF roadmap conversation to continue at COP 31 in Antalya and beyond. Others highlighted that the Santa Marta process is complementary to, not undermining or duplicating, the Paris Agreement and the UNFCCC.
Producer-consumer (or exporter-importer) cooperation and dialogue was also a topic of conversation. Market signals, trade for low-emission fuels, collaboration on technology, and bilateral and multilateral dialogue were all highlighted as areas where producers and consumers can cooperate.
Participants also discussed bond markets, including how they can penalise producing countries for transitioning away from fossil fuels, which is the long term fiscally responsible thing to do.
Theme 3 recommendations
- Exporters and importers of fossil fuels should work together to tackle both fossil fuel supply and demand in tandem, to avoid price hikes and unrest. Importers can set very clear policy, regulatory and pricing frameworks that create demand for low or zero emissions fuels. Importers and exporters can jointly derisk low-emission fuel projects through cooperation agreements or cross-border support, to enable scale up of those projects that can help producers maximise the resources that they have and provide an alternative source of revenue.
- The roadmaps workstream of the Santa Marta forward process, led by the NDC Partnership and the Science Panel for the Global Energy Transition, should be country-led in nature, and should not place new burdens on countries to develop a new plan.
- Fossil fuel importing governments should not only decarbonise at home, but send policy signals to coordinate with fossil fuel exporting governments, including demand signalling and consumer-producer dialogue.
- The trade workstream of the Santa Marta forward process, led by the OECD, should look at alternative revenue options for fossil fuel producing countries.
- The COPs 30, 31 and 32 Presidencies should find ways for the conversation about the Brazil COP30 Presidency’s TAFF roadmap to continue beyond COP31 in Antalya.
- More conversation is needed on how governments and international institutions can work with bond markets to better support producers as they transition away from fossil fuels.
- More conversation is needed on multilateral financial solutions to managing potential stranded assets.
- More conversation is needed on how supply chains can be reshuffled to add value closer to where the resources are.
Natalie Jones
Wilton Park | September 2026
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Editor’s note
Artificial intelligence tools were utilised to support the preparation of this report, including the development of the highlights page graphic and the drafting of select sections of text. All analytical work was performed by the author, who retains full editorial responsibility for the content, accuracy, and conclusions presented herein.
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